Traders work on the floor of the New York Stock Exchange (NYSE) on September 19, 2024, in New York City.
U.S. Treasury bond yields were lower on Friday following the release of lower-than-expected jobless claims in the wake of the Federal Reserve's jumbo rate cut.
The 10-year Treasury yield was around 2 basis points lower at 3.722%. The 2-year Treasury note yield was down around 1 basis point at 3.597%.
Yields and prices move in opposite directions. One basis point is equivalent to 0.01%.
Initial jobless claims, which came in at 219,000 for the week of Sept. 14, were lower than expected and showed a decline from the prior week. Economists polled by Reuters had expected 230,000 claims for the period.
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The Federal Reserve's decision on Wednesday to slash interest rates by 50 basis points comes amid a week full of central bank rate decisions. The Bank of England announced on Thursday it would hold interest rates steady after cutting rates for the first time in more than four years in August.
Meanwhile, in Asia, the Bank of Japan kept its benchmark interest rate steady at around 0.25% — the highest rate since 2008 — and China surprised markets by leaving its benchmark lending rates unchanged at the monthly fixing. Market watchers polled by Reuters had expected a trim from The People's Bank of China.
